Affordable Housing Commuted Payments August 2018
Suffolk Coastal District Council - Commuted Payments 2018
Commuted payments are based on open market plot values that have development potential. The basis for the figures in the table below is to provide typical values for various house plot types. The valuations therefore include assessment of open market land values for a typical site including standard infrastructure costs. Figures for the period 15 August 2018 to 14 August 2019
High Medium Low
1 bed flat £90,000 £70,000 £60,000
2 bed flat £100,000 £80,000 £70,000
2 bed plot £125,000 £105,000 £85,000
3 bed plot £155,000 £120,000 £100,000
4 bed plot £170,000 £140,000 £120,000
Notes:
*Low Value area comprises of Felixstowe, Leiston, Trimley St Mary and Trimley St Martin
**Medium Value area comprises of Saxmundham, Kelsale, Wickham Market, Campsea Ashe, Rendlesham, Wantisden, Chillesford, Butley, Eyke, Bromeswell, Sutton Heath, Sutton, Capel St Andrew, Boyton, Hollesley, Shottisham, Alderton, Ramsholt, Bawdsey, Falkenham, Kirton, Martlesham, Kesgrave and Rushmere St Andrew
***High Value area comprises the remaining part of the District (Walberswick is included with Southwold in Waveney figures – see separate details)
Market Value is defined as the estimated amount for which a property should exchange on the date of valuation between a willing buyer and a willing seller in an arms length transaction after proper marketing wherein the parties had each acted knowledgeably, prudently and without compulsion.
It is assumed that access will be available and all services at no additional cost in respect of infill plot values.
It is presumed that no easements, restrictions and right of way exist to affect the Market Value.
It is assumed that no abnormal costs will be encountered.
Tenure is based on freehold with vacant possession made available.
It has been assumed that planning consent for use envisaged would be given in the usual way to the private sector, and not restricted to Housing Associations, Social Landlords, etc when the values would be substantially reduced.